Financial Aid Tools

Financial Aid Portal

Your Username is your Social Security Number. The Password is the SFCC PIN number you use to register.
If your PIN number is less than 6 digits, add a zero to the front of your PIN. You must have applied
for Admissions to use the Portal.

American Opportunity and Lifetime Learning Tax Credits

American Opportunity Scholarship is a tax credit, not a scholarship.
Tax credits are subtracted from the tax your family owes, instead of subtracting
them from taxable income like a tax deduction. Your family must file a federal tax
return and owe taxes to get this tax credit. You can't get a refund for the Hope
credit if your family doesn't pay taxes. If your family owes less in taxes than
the maximum amount of the Hope tax credit for which your family is eligible, you
can only take the credit for the amount you owe in taxes.

Your family may claim a tax credit up to $1,500 for each eligible dependent for
up to two tax years. In other words, your family may claim up to 100% of the first
$1,000 of eligible expenses and 50% of the next $1,000 for a maximum credit of $1,500.

The exact amount of the credit depends on a number of factors. The tax law
says an eligible student must be enrolled at least half-time in an eligible program
leading to a degree or certificate at an eligible school during the calendar year
AND must not have completed the first two years of undergraduate study. You may
claim the credit yourself if you are not claimed as a dependent by another taxpayer.
For detailed information, please visit:
Parent and Student Guide to Federal Tax Benefits for Tuition and Fees.

Understanding the Lifetime Learning Tax Credit

The Lifetime Learning credit is a tax credit available to individuals who file a
tax return and owe taxes. This means the amount of the credit is subtracted from
the taxes your family owes, rather reducing taxable income like a tax deduction
does. You can't get a refund for the Lifetime Learning credit if your family doesn't
pay taxes. If your family owes less in taxes than the maximum amount of the Lifetime
Learning tax credit for which your family is eligible, you can only take the credit
for the amount you owe in taxes.

Your family may claim a tax credit up to $1,000 per tax year (until January 1, 2003)
and up to $2,000 (after that date) for the taxpayer, taxpayer's spouse, or any eligible
dependents for an unlimited number of tax years.

The actual amount of the credit depends on your family's income, the amount of qualified
tuition and fees paid, and the amount of certain scholarships and allowances subtracted
from tuition. This credit is family-based (e.g., $1,000 per family) rather than
based on the number of dependents in your family like the Hope credit.